HK’s Hang Seng Index will incorporate Chinese internet giants Alibaba, Xiaomi and Meituan Dianping – companies with dual-class or equivalent structures, starting from August, with a weighting cap of 5%. The tech trio are also eligible to join the Hang Seng China Enterprises Index. The Hang Seng is tracked by $20 billion of exchange-listed products globally and $8 billion of local retirement plans, the index provider said in a consultation paper in January. // FT | Hang Seng Indexes
On May 18, HeyTea 喜茶 announced the roll-out of its first artificial meat product, partnering with Starfield 星期零. The 未来肉芝士堡 is priced at ¥25. // 36kr | WeChat
Before HeyTea, its competitor Naixue’s Tea also partnered with Starfield on artificial meat burger last November. Last month, Starbucks and KFC in China launched their artificial / plant-based meat products. // Sina | 36kr
ByteDance is marching into automobile sector with plans to integrate Douyin and Toutiao into cars. The research and development (R&D) team for the Internet of Vehicles (IoV) team are former employees of smartphone maker Smartisan 锤子手机, who joined the company after ByteDance acquired Smartisan (team & patents) in early 2019. // 36kr | kr-asia
Chinese black-box doll retailer Pop Mart 泡泡玛特 has raised more than $100 million in funding from China Renaissance and Loyal Valley Capital in what is expected to be its last round before an IPO. // avcj | 36kr